Thursday, December 1, 2011

Since Barrett Wissman became involved with IMG Artists, the company has been expanding with new offices and festivals around the world.

Robin Newton reports....

THERE WAS A TIME NOT SO LONG ago when IMG, along with CAMI, dominated artist management. The power they wielded gave them an unprecedented level of influence and control; and that was quickly turned into serious money.

The foundations of IMG, however, lay in sport where the constant influx of new stars and the constant exposure of existing champions provide seemingly endless revenue opportunities. The arts, with the exception of a few proven long-term performers, did not yield such riches. By the beginning of the 21st century, the artist management branch of IMG was failing; some reports claimed annual losses of £1m ($1.7m).

Clearly, something had to change. IMG decided to sell its artist management
arm but found buyers hard to come by. In 2003, Mark McCormack, the founder and heartbeat of IMG, died suddenly, making the situation more urgent: there was no clear way forward but swift action was essential.